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20130101
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continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back on any increase in taxes. >> they say that the biggest priority is making sure that we deal with the deficit in a serious way, but the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. >> but senators say there is some movement on the issue. >> there's a lot of give and take right now but republicans doan want to see new revenues in other words, tax increases be used for spending. >> the president says if there's no deal by the end of the day, they should draw up a new tax plan. >> there should be a right to vote. if republicans don't like it they can vote no but i actually think there's a majority support for making sure the middle-class families are held harmless. >> a white house proposal to increase estate taxes also held up negotiations over the weekend. now, even if the democratic-led passes, it still has to get
. >>> and now to the efforts to avoid the so-called fiscal cliff. president obama returns to washington later today and the senate is due in session, but just about everyone agrees with just five days left, the possibility for a grand bargain to avoid across-the-board tax increases and spending cuts is all but lost, and even prospects for watered down deals seems slim. tara mergener is in washington with more. tara, good morning. >> good morning, duarte. yes. hopes for legislation to avoid the fiscal cliff now turns to the senate, but white house and republicans remain far apart. senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the fiscal cliff. higher taxes will give the average american about $1,500 less to spend next year, and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch because in four days we can't solve everythi
Search Results 0 to 2 of about 3 (some duplicates have been removed)